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Solar Energy to supply about 5% of UK’s electricity needs in the next five years

The UK government announced that solar energy could be powering a small portion of the state by 2020. The declining cost of installing solar panels, as well as new technology that allows such panels to accumulate more energy from the sun, is what made the UK re-asses its forecast for energy use.

The plummeting costs of solar panels also allowed the government to end the funding for its large-scale solar projects this year.

The price for installing solar panels dropped by around 70% in the past several years when China stepped in to provide services to interested customers around the world. This in turn prompted the government to withdraw subsidies from other large-scale solar firms, and created a solar boom as companies rushed in to connect to the grid.

The government’s decision to pull out subsidies when Chinese manufacturers entered the solar market has meant that solar energy has struggled to compete with fossil fuels. According to the Solar Trades Association spokesman Leonie Greene, the state still needs subsidies for a few years before the UK can compete properly with fossil fuels.

The oil industry remains strong despite dwindling prices of gas. In some parts of Iraq, plenty of companies are still positive about the recovery of oil and are showing no signs of supporting hybrid-powered machinery. Basrah Oil Company, a joint venture between state run South Gas Company of Iraq, Mitsubishi, and Shell, granted UnaE&C Iraq a contract to modernize its facilities in West Qurna, and announced that there would be no additional funding for renewable energy projects. Basrah Oil Company seems to believe solely in the strength of fossil fuels.

A spokesman from the UK government estimates that there are more than 600,000 solar installations in the state, both in commercial areas and housing estates.